YETI (NYSE:YETI) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of YETI (NYSE:YETI) from a sell rating to a hold rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “Yeti Holdings, Inc. designs, markets and distributes products for the outdoor and recreation market under YETI brand primarily in the United States. The company’s products are designed for use in outdoor activities, including recreational and professional pursuits targeting various categories, including hunting, fishing, camping, barbecue, farm and ranch activities and others. Yeti Holdings, Inc. is headquartered in Austin, Texas. “

YETI has been the topic of several other reports. Cowen boosted their target price on shares of YETI from $77.00 to $81.00 in a research report on Wednesday, January 20th. Morgan Stanley boosted their target price on shares of YETI from $60.00 to $66.00 and gave the company an equal weight rating in a research report on Friday, February 12th. Credit Suisse Group boosted their target price on shares of YETI from $85.00 to $105.00 and gave the company an outperform rating in a research report on Friday. TheStreet raised shares of YETI from a c+ rating to a b- rating in a research report on Friday, March 5th. Finally, Raymond James boosted their target price on shares of YETI from $83.00 to $90.00 and gave the company an outperform rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. YETI has a consensus rating of Buy and an average target price of $84.00.

Shares of NYSE:YETI traded up $2.73 on Friday, hitting $88.55. The company had a trading volume of 2,548,264 shares, compared to its average volume of 1,502,128. YETI has a 1-year low of $25.38 and a 1-year high of $90.65. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 113.53, a P/E/G ratio of 2.66 and a beta of 2.80. The stock has a 50 day moving average price of $82.05 and a 200 day moving average price of $71.22. The company has a current ratio of 2.80, a quick ratio of 1.74 and a debt-to-equity ratio of 1.60.

YETI (NYSE:YETI) last released its quarterly earnings data on Thursday, May 13th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.17. YETI had a net margin of 7.17% and a return on equity of 84.63%. The firm had revenue of $247.60 million for the quarter, compared to the consensus estimate of $218.11 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 42.0% on a year-over-year basis. Sell-side analysts anticipate that YETI will post 1.37 earnings per share for the current fiscal year.

In other news, CEO Matthew J. Reintjes sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $70.48, for a total value of $1,409,600.00. Following the completion of the transaction, the chief executive officer now owns 327,155 shares of the company’s stock, valued at $23,057,884.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Hollie Sammons Castro sold 3,045 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $73.19, for a total transaction of $222,863.55. Following the sale, the senior vice president now directly owns 30,124 shares of the company’s stock, valued at approximately $2,204,775.56. The disclosure for this sale can be found here. Insiders sold 87,264 shares of company stock valued at $6,525,142 in the last ninety days. 10.70% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in YETI by 600.0% during the 1st quarter. Signaturefd LLC now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares during the period. IndexIQ Advisors LLC acquired a new stake in YETI during the 1st quarter valued at approximately $32,000. International Assets Investment Management LLC acquired a new stake in shares of YETI during the 1st quarter worth approximately $33,000. Archer Investment Corp acquired a new stake in shares of YETI during the 4th quarter worth approximately $38,000. Finally, Vantage Consulting Group Inc acquired a new stake in shares of YETI during the 4th quarter worth approximately $40,000. 93.49% of the stock is owned by institutional investors and hedge funds.

YETI Company Profile

YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, such as colsters, lowballs, wine tumblers, stackable pints, tumblers, mugs, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, jug mounts, and bottle slings under the Rambler brand.

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